DA: Food prices stable due to improved supply

MANILA, Philippines — Despite higher logistics costs, food prices have remained stable due to improved supply, the Department of Agriculture maintained yesterday.

According to the DA, local production has helped in keeping retail prices from climbing drastically since the onset of the Middle East tensions.

“Based on our latest data, prevailing retail prices remain generally stable and are still fair and justifiable relative to farmgate prices, despite rising fuel costs,” DA Assistant Secretary Genevieve Velicaria-Guevarra said.

Although the department’s Agribusiness and Marketing Assistance Service indicated a selective price increase in local beef and pork, the official said “most alternative sources, including chicken, eggs, fish and vegetables have either held steady or declined as of April 13.”

Meanwhile, the DA observed a price increase for imported rice, yet Velicaria-Guevarra expects it to ease after President Marcos said he is considering imposing a P50 per kilo price cap.

On the other hand, fish supply gained a boost following the end of the fishing ban on Jan. 31, with galunggong falling from P330 to around P200 per kilo and tamban from P140 to P130.

“The DA Bantay Presyo Supply and Monitoring Team is on top of the situation, closely tracking both supply and prices of basic necessities and prime commodities across markets nationwide,” the DA official stated.